Sunday, July 31, 2011

Senator Mitch McConnell of Kentucky, the Republican leader, said Sunday morning that he was “very close” to recommending to his members that they sign on to a debt deal with President Obama and the Democrats.

Speaking on the CNN program “State of the Union,” Mr. McConnell said the emerging deal included as much as $3 trillion in cuts over the next 10 years, with much of that decided later this year by a joint congressional committee.

“What conservatives want to do is cut spending,” he said. “We’ve come a long way. This agreement is likely to encompass up to $3 trillion is spending cuts.”

In addition, Mr. McConnell said the agreement would allow votes in Congress on a balanced budget amendment.

Mr. McConnell indicated that proposals to force action by the joint committee had been among the most contentious of the last week. He declined to be specific about so-called “triggers” of across-the-board cuts that would go into effect if the committee could not agree on a plan — a measure meant to put pressure on the committee to finish its work.

But he said the committee — made up of six Democrats and six Republicans — would be under tremendous pressure by the American people and the markets to implement the further spending cuts.

“That’s been an item of outstanding discussion for over a week,” Mr. McConnell said. “We’ll let you know what we’ve done on the trigger issues when we make the announcement.”

Congress and the White House are racing to strike a deal to raise the federal government’s borrowing cap before Tuesday, the day that the Treasury Department has said it would no longer be able to pay for all of its commitments. Congressional Republicans have demanded spending cuts in exchange for approval to raise the federal borrowing limit.

Late on Saturday night, the Senate delayed until 1 p.m. Sunday a crucial vote on a debt ceiling bill put forward by the Democrats, amid growing indications that a compromise was in the works.

Appearing after Mr. McConnell on the same program, Senator Charles E. Schumer of New York, a Democrat, Mr. Schumer agreed that the question of a trigger was “one of the key issues that’s still being debated.”

Mr. Schumer echoed Mr. McConnell’s optimism but had a different assessment of the tone. The debate, he said, has “an enmity that in my 37 years as a legislator I have never seen.’’

But, he said, “I feel a lot better today about the ability to avoid default than I did even yesterday morning.’’

“And default would have such disastrous consequences for our nation for decades to come,’’ he said, adding, “The fact that our leaders are talking, though hardly any one agrees with everything that’s come up, is a good thing,’’ he said.

But Mr. Schumer sketched out a key area of disagreement, the components of a trigger for what would happen if Congress does not follow up with a second round late this year, based on recommendations by the commission. That is still under negotiation, he said.

“The key to the trigger is one word, equality,’’ he said. “It should be equally tough on Democrats and Republicans.’’ He proposed a series of policy defaults that would take effect if Congress could not agree, to encourage such agreement.

For example, he said, it might include steps anathema to Democrats, like cutting college scholarships for middle-class children or prescription drug benefits. And for Republicans, he said, “They would have to do things they hate, like close loopholes for oil companies, and corporate jets.’’

But at the moment, he said, “We don’t even know what all the details are, so we’re not yet ready to urge anybody to be for it.

On the ABC program “This Week,” David Plouffe, senior adviser to Mr. Obama, was asked if there was a deal. “No, there’s not,” he replied. But he laid out the outlines of an emerging agreement: a package that includes $1 trillion in cuts, and a Congressional commission that would report to Congress in the fall with a plan for additional changes amounting to $1 trillion or more.

Mr. Obama and the Democrats are still pushing for revenue increases, he said, though the Republicans remain opposed. “I think the American people have spoken out that they want a balanced approach,’’ he said.

He said twice that it was “inconceivable” that there would not be a deal, and said the American people were “furious” that no agreement had been reached.

Mr. Plouffe was followed by Senator Lindsey Graham of South Carolina, a Republican who has sometimes shown tendencies toward bipartisanship. He said that the emerging deal represented progress.

“It’s a $3 trillion package that will allow $7 trillion to be added to the deficit over the next decade,” he said. Without the agreement, $10 trillion would have been added, he said.

TSA REFORM: "DON'T TOUCH MY JUNK NOR MY TREASURES!"

NC DSS SYSTEM CASUALTIES...CHILDREN DON'T MATTER

REAL CIVIL RIGHTS LEADERS; EQUALITY & JUSTICE FOR ALL!

POLITICAL WALL OF SHAME...PLEASE VOTE RESPONSIBLY

THE TRUE COST OF WAR

ABOUT ME

Welcome to the BLACK POLITICAL BUZZ Blog. (Established 2008)
My name is Laurel. (Author & Publisher)
I Blog with a focus on POLITICS, Business, and occasionally Entertainment.
FACTS ABOUT LAUREL:
Wife,
Mother of a U.S. Soldier,
Sister,
Woman of GOD,
Loyal Friend,
Creative,
Blood-related to a nationally known Charlotte Politician.
Black Female, Intelligent,
Married,
Love to Travel,
Credentialed by the RNC and DNC.
Political Blogger/ Commentator
Grassroots Activist,
PROFESSIONAL STATUS:
Credential Political Blogger/ Commentator,
Registered Independent Voter
Original Native of BROOKLYN, NY
Currently reside in CHARLOTTE, NC
I’m Nice but don’t get it twisted because my Mind is Sharp!

WEBSITE LEGAL DISCLAIMER

Since You’ve Chosen to Visit and Read the Contents of this Blog by Personal Choice, and of Your Own Free Will,

Please don’t ask me to Compensate you for Expressing individual commentary/ Posted Articles, which are protected by the First Amendment, citing Freedom of Speech & Freedom of Expression.

No Intentionally Malicious Slander, Libel or Defamation of Character content will be published and I will always Credit all Sources.

NOTE TO ALL ELECTED OFFICIALS, APPOINTED OFFICIALS & PUBLIC FIGURES:

Per the Landmark U.S. Supreme Court Case: 1964 case of New York Times v. Sullivan………

The Public has a Right to Criticize the People who Govern them, so the least Protection from Defamation is given to Public Officials. When officials are accused of something that involves their behavior in office, they have to prove all of the above elements of defamation and they must also prove that the defendant acted with “actual malice.” (For a definition of actual malice, see the “History of Defamation and the First Amendment, below.”)

People who aren’t Elected but who are Still Public Figures because they are influential or famous — like Actors, Actresses, Movie Stars, Singers & Entertainers, Journalists, TV Hosts, Bloggers, etc., — also have to Prove that Defamatory statements were made with Actual Malice, in most cases.

To the Associated Press and other Media Organizations:

When I use your Content Links., I’m also citing the Fair Use Doctrine (Title 17 U.S.C. Section 107) for further Copyright permission.

Posts and Links published on Black Political Buzz are not endorsed by Black Political Buzz Blog Author Laurel’s Employer, nor the Employers of other Black Political Buzz employees.

This includes Links, Posts and Comments posted on Black Political Buzz’s Facebook and Twitter account pages.

Comments, Links and Opinions of site visitors are Independently-Owned and not endorsed by Black Political Buzz employees, Blog Author Laurel or Laurel’s Employer.)

(No Personal Offense intended) Please know that Black Political Buzz is not responsible for nor do I endorse Requests for Donations from Third Parties on this Blog.

I will Only Endorse Requests for Donations made on behalf of BLACK POLITICAL BUZZ Blog for Business Purposes & Operating Expenses.

I will also Only Endorse Requests for Donations on behalf of Legitimate Politicians and Legitimate Political Candidates. PERIOD!!

If anyone else or another Organization wishes to post a link to Request Donations, I am NOT endorsing ANY of those Requests!

Unless I receive a personal Request to do so and I have Professionally Confirmed that the Third Party Organization or Charity is indeed a Legitimate Entity.

NOTE: Anyone who chooses to give to any Third Party Organization NOT Endorsed by BLACK POLITICAL BUZZ is doing so at his or her own risk.

BLACK POLITICAL BUZZ does NOT Discriminate against Politicians, Political Candidates, Organizations or Charities based on Race, Color, Nationality, Ethnicity, Gender, Sexual Orientation, Religion, Faith, Disability, Political Affiliation, Creed, Education, Social Status, Age.

This disclaimer applies to ANY and All requests for Donations on this Blog. Thanks for understanding. Again No Personal Offense intended.